National Bank Financial Weighs in on Rogers Communications Inc.'s FY2024 Earnings (NYSE:RCI)

Rogers Communications Inc. (NYSE:RCI - Free Report) TSE: RCI.B - Equities research analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Rogers Communications in a report issued on Tuesday, April 9th. National Bank Financial analyst A. Shine now forecasts that the Wireless communications provider will post earnings of $3.36 per share for the year, down from their previous estimate of $3.52. The consensus estimate for Rogers Communications' current full-year earnings is $3.62 per share.

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of Rogers Communications from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. Barclays reduced their target price on shares of Rogers Communications from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Rogers Communications has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

Rogers Communications Stock Performance

Rogers Communications stock traded down $1.11 during midday trading on Friday, reaching $38.06. 653,828 shares of the stock traded hands, compared to its average volume of 512,291. The company has a current ratio of 0.89, a quick ratio of 0.84 and a debt-to-equity ratio of 3.81. The firm has a fifty day moving average price of $43.33 and a two-hundred day moving average price of $43.11. The firm has a market cap of $20.12 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.67 and a beta of 0.59. Rogers Communications has a fifty-two week low of $36.55 and a fifty-two week high of $50.00.

Rogers Communications (NYSE:RCI - Get Free Report) TSE: RCI.B last posted its quarterly earnings results on Thursday, February 1st. The Wireless communications provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Rogers Communications had a net margin of 4.38% and a return on equity of 22.17%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.99 billion.

Institutional Trading of Rogers Communications

A number of institutional investors have recently made changes to their positions in RCI. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Rogers Communications in the 1st quarter worth approximately $1,219,000. American Century Companies Inc. lifted its stake in shares of Rogers Communications by 29.8% in the 1st quarter. American Century Companies Inc. now owns 28,915 shares of the Wireless communications provider's stock worth $1,637,000 after acquiring an additional 6,634 shares during the period. US Bancorp DE lifted its stake in shares of Rogers Communications by 3.0% in the 1st quarter. US Bancorp DE now owns 7,289 shares of the Wireless communications provider's stock worth $413,000 after acquiring an additional 213 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Rogers Communications in the 1st quarter worth approximately $237,000. Finally, BlackRock Inc. lifted its stake in shares of Rogers Communications by 16.1% in the 1st quarter. BlackRock Inc. now owns 3,281,771 shares of the Wireless communications provider's stock worth $186,241,000 after acquiring an additional 455,522 shares during the period. 45.49% of the stock is owned by institutional investors and hedge funds.

Rogers Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Monday, March 11th were paid a $0.3742 dividend. This is a positive change from Rogers Communications's previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, March 8th. Rogers Communications's dividend payout ratio is currently 122.50%.

Rogers Communications Company Profile

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.